A new analysis reveals that increased construction spending is boosting the country’s economy at a rate not seen since 2008
The U.S. construction industry is alive and kicking. With new developments rising from coast to coast, construction is having a 21 percent larger impact on the country’s GDP than in 2011, according to a new Stateline analysis of data from the U.S. Bureau of Economic Analysis. The sector should have an estimated economic impact of $650 billion this year—the largest it’s been since 2008 when adjusted for inflation.
The data shows that 6.7 million people were employed in the U.S. construction industry this summer, an increase of 1.3 million workers from the recorded low point in January 2011. For a little perspective, during the apex of the 2006 housing boom, the industry employed 7.7 million workers.
Read the Full Story HERE >>>> Source: It’s official: The U.S. is in a massive building boom – Curbed